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Kaveri Seed Company reports consolidated net loss of Rs.7.45 crore in Q4FY16 vs net profit of Rs. 9.23 crore in Q4FY15 : Estimates Mixed

The company’s consolidated revenue stood at Rs. 43.82 crore, up 9.69% yoy but down 52.24% qoq.

May 10, 2016 2:36 IST | India Infoline News Service
Kaveri Seed Company
Kaveri Seed Company, country's leading seed producer, reported consolidated net loss of Rs.7.45 crore for the quarter ended March 31, 2016. However, it had reported net profit of Rs.1.25 crore in the corresponding quarter of the previous year and Rs. 9.23 crore in the preceding quarter. The company’s revenue stood at Rs. 43.82 crore, up 9.69% yoy but down 52.24% qoq.

Its consolidated core operating loss stood at Rs. 4.74 crore for the quarter. However, the company had reported core operating profit of Rs.8.43 crore in the same quarter of the previous year and Rs. 12.89 crore in the preceding quarter.

For the year ended March 31, 2016, the company reported consolidated net profit of Rs. 176.44 crore, declining by 41.38% yoy. Its consolidated revenue for the period stood at Rs. 892.77 crore, registering decline of 23.1% yoy.

Kaveri Seed Company's core operating profit stood at Rs. 188.61 crore, recording decline of 39.09% yoy. Operating margin for the current period at 19.64% contracted by 703 bps yoy.

On standalone basis,Kaveri Seed Company reported standalone net loss of Rs.9.76 crore for the quarter ended March 31, 2016. However, it had reported net profit of Rs.2.31 crore in the corresponding quarter of the previous year and Rs. 12.46 crore in the preceding quarter. The company’s revenue stood at Rs. 32.17 crore, up 10.28% yoy but down 56.37% qoq.

Its standalone core operating loss stood at Rs. 5.91 crore for the quarter. However, the company had reported core operating profit of Rs.7.08 crore in the same quarter of the previous year and Rs. 15.83 crore in the preceding quarter.

For the year ended March 31, 2016, the company reported standalone net profit of Rs. 177.12 crore, declining by 41.32% yoy. Its standalone revenue for the period stood at Rs. 849.02 crore, registering decline of 23.89% yoy.

Kaveri Seed Company's core operating profit stood at Rs. 191.96 crore, recording decline of 37.39% yoy. Operating margin for the current period at 21.11% contracted by 637 bps yoy.

Result Highlights: (Rs. in crore)

Reported Results IIFL Estimates Variance (%)
Consolidated Revenue 43.82 40.75 7.53
Consolidated Net Profit -7.45 2.02 N/A

Bloomberg estimated the company’s consolidated net profit at Rs. 1.63 crore.

Stock Commentary:

Kaveri Seed Company Ltd is currently trading at Rs. 394.65, up by 9.65 points or 2.51% from its previous closing of Rs. 385 on the BSE.

The scrip opened at Rs. 388.95 and has touched a high and low of Rs. 397 and Rs. 379.3 respectively. So far 1418903(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2658.62 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 987.75 on 01-Jun-2015 and a 52 week low of Rs. 300 on 18-Jan-2016. Last one week high and low of the scrip stood at Rs. 413.25 and Rs. 381.2 respectively.

The promoters holding in the company stood at 57.49 % while Institutions and Non-Institutions held 28.95 % and 13.56 % respectively.




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